Auto Insights Newsletter | April 2023
Coaxle acquires interest in IX Online
Coaxle, the integrated data and insights company of which Lightstone is a valuable member, has recently acquired a 50% interest in iX, a specialist provider of digital solutions, primarily to the retail automotive industry.
The acquisition will strengthen the synergies between iX and long-standing partner Lightstone, a provider of comprehensive data, analytics and systems in the automotive and property sectors.
The acquisition enables a broader and deeper value proposition as it creates cross-selling opportunities, and will provide value to motor dealers through an enhanced stock management process, optimised digital customer engagement capabilities and streamlined finance and insurance application processes.
“Coaxle is dedicated to the sustainability of the industries we serve and through this acquisition we confirm our commitment to the motor industry and by unlocking the potential of these two complementary businesses, we believe we will add additional value to the industry” said Pete Backwell, who currently serves as Chairman of Coaxle and played a pivotal role in the initiation and formation of Lightstone in 2004.
iX provides solutions focused on quality leads generation and leads and stock management and facilitate engagement and relationship building between the dealership and end consumers.
To speak to the value this acquisition brings for Lightstone Auto, Pieter Wessels, Managing Director at Lightstone Auto said: “The partnership will strengthen our value proposition and competitive positioning within the buy/sell segment of the retail motor industry. It will improve both our reach, in terms of market coverage and depth, in terms of product penetration. It will also improve access to complementary data sets which we believe will unlock value for the industry.”
The Lightstone purpose is to enable motor dealers to remain relevant in a rapidly changing and complex world, through data insights and workflow solutions. The partnership with iX will help to:
Broaden their reach across the dealer value chain
Improve contact with dealer decision-makers and other participants in the auto industry
Strengthen and expand their combined product and service offering
Support motor dealers in executing digital strategies
“We look forward to joining forces with Lightstone, Coaxle and its affiliated businesses. Together we will be able to maximise our expertise to bring an enhanced value proposition to the industry. We cannot wait to use the synergies from this transaction to better serve the digital and data needs of the automotive industry” said Johan Marshall, CEO at iX.
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